The Limited Times

Now you can see non-English news...

Floods in Pakistan: the trail of a debt swap

2022-09-15T15:15:57.762Z


The devastated country could invest in reconstruction what it must repay to its creditors, suggests the UN.


Pakistan is not done with cataclysmic floods.

While the death toll is close to 1,500 dead, new rains are feared until the end of the month.

The cost of the destruction would amount, according to the central government, to 18 billion dollars, or 5% of the GDP.

The UN speaks of 30 billion.

In this context, the government continues to hammer home the need for more climate justice.

Again on Monday, while receiving the French ambassador in Islamabad, Prime Minister Shehbaz Sharif repeated that his country, which emits few greenhouse gases, was “

one of the most vulnerable to devastation

”.

This argument received a boost from the UN Secretary General.

Antonio Guterres pleaded on September 10 for a debt replacement mechanism in favor of the country.

Instead of repaying its creditors, a country uses this money to invest in greater resistance to the effects of climate change

(…)

and in the green transition of its economy

, he said…

This article is for subscribers only.

You have 77% left to discover.

Cultivating your freedom is cultivating your curiosity.

Keep reading your article for €0.99 for the first month

I ENJOY IT

Already subscribed?

Login

Source: lefigaro

All business articles on 2022-09-15

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.